Come & get it

Monday’s dose of Chrystianomics will be put to a confidence vote, her boss now says. Thanks for the deputy prime minister, Jag, the government will not fall. The spending will continue. And your children’s children will look at their marginal tax rates and wonder what the hell their ancestors were thinking.

More news: bank profits are back. And the economy roared ahead 40% in Q3 after being crushed 38% in Q2. The big question is what the second wave will do to Q4. And it won’t be pretty. But meanwhile Mr. Market doesn’t care. He’s hopped up on vax, so the Dow topped the 30,000 mark on Tuesday and investors just enjoyed the best November since ever.

Yup. What a mixed-up world. Stephen Harper suffered the wrath of media hell with a deficit of $56 billion during the credit crisis. When Trudeau’s red ink hit $381 billion this week, there was barely a ripple. Around the globe governments have now thrown $19 trillion at Covid. In Canada this has meant a giant spike in the household savings rate, since gobs of people have more money than they did pre-virus. It’s why Justin would actually love to lose that vote, triggering an election.

What do most little beavs care about?

Themselves, naturally. And the gifts keep coming.

Like the $400 everybody got Monday for staying home. Chrystia announced the CRA would be introducing a simplified claim to allow WFH warriors to write off up to four hundred bucks worth of staples, paper, thumb drives and wires. This will be a straight deduction from taxable income and – guess what? – nobody needs receipts. Or even a T2200 form from your employer stating that you can claim work-related costs. Nope. It’s just a freebie. Four hundred clams.

And for the homeless urban moisters comes the enhanced First Time Home Buyer Incentive. Remember that? It’s the shared-mortgage scheme whereby the government will chip in 5% or 10% of the financing, cost-free, for up to 25 years. Now the pot’s been sweetened so buyers in Van, the GTA or Victoria can buy digs worth up to $722,000, employing government money – a huge jump from the previous limit of $505,000.

Won’t this just add to absurd 1.7% five-year mortgage rates in goosing house prices beyond the means of average people? You bet. But this is Covid Canada, 2020. Everybody gets a pony. If excessive stimulus, emergency rates and historic deficits completely screw things up, just relax. ‘We’ve got your back,’ the leader said. What could possibly go wrong?

Well, the big news here on this pathetic blog is the winner of the Deficit Challenge. We asked you for an estimate of how pooched the Chrystia mini-budget would leave us, and more than 300 of you responded with wild, unsubstantiated and possibly inebriated responses. The number announced Monday was $381.6 billion. The closest guesser came in at… $381.6 billion.

That winner posted here as ‘TANSTAAFL’, whatever that means, and has earned a guest post on a topic of his choosing plus the chance to moderate comments for a day. After being notified of this massive and systemically-significant prize, this was the response from a person we now know is called John.

I initially assumed this was some sort of sad fishing attempt as I did not think my message had even posted. I had to go back and literally check the mind boggling numbers.

This is your blog sir, while I will embarrass myself if you are serious about the offer, I have no interest in moderating the comment section.  I can afford the therapist but I don’t think I can carry the cost of the single malt required to wade through that particular ocean.

Given that I am not a financial advisor, realtor, economist, or politician I will have to think about what I have to offer.  I considered turning the blog over to my friend, a micro-biologist working on COVID-19, but he likes gold too much and would likely look at the comment section and loose his last shred of hope for humanity.

If you are serious, I have no problem if you wish to edit or offer an interspersed commentary.  I do not view this as a transgression against my freedom of speech on your blog.  As a warning, my post would likely hold up politicians and experts while ending with a recommendation to get vaccinated to save the economy.

Who is John? What does he do and where’s he live? How’d he possibly know – to the fraction of a billion – what our flashy new finance minister was going to do? And why would somebody who’s intelligent, articulate and prescient visit such a trashy site?

Stay tuned. You’ll soon have the chance to punish him badly.

161 comments ↓

#1 TurnerNation on 12.01.20 at 3:01 pm

Get ready to De-colonize and De-carbonize Ka-nada. Starting with your wallet. Toss those greenbacks with their portraits straight into the UN Sinkhole fund.

Point of order, I was spending about $75 each week at a local black-owned Small Business. Then a few weeks ago the global government ordered that business CLOSED and its employees onto welfare or EI/CERB.
As we are living in a Communist RED Zone prefecture. No small business allowed.

#2 crowdedelevatorfartz on 12.01.20 at 3:04 pm

Go for it John!
Throw the Liberal euro trash to the blog dogs and Howl at the comment section.
There’s always more single Malt at the Liquor store…

#3 Sharon Sandoz on 12.01.20 at 3:18 pm

TurnerNation, this is nothing new, the democrats in the 60’s kicked out the men from families in order for women, mothers to collect welfare. This is just more global now.

People never learn and poverty is the new world. Just yesterday, China, Peoples Republic, communist government for the people yeah right, just made all Chinese workers get their pension at 65 years old.

Guess who suffered the most, women, they were eligible at 55 years old under old rules, now 65 years old. You have to like that socialist, communist for the people equality mantra. Good luck sleeping people.

#4 just a dude on 12.01.20 at 3:19 pm

Thank you, Garth.

John sounds like someone I’d enjoy having a drink with; looking forward to his post!

#5 TurnerNation on 12.01.20 at 3:19 pm

The Guest Blogger (“chosen one”/Teacher’s pet lol) better post a photo.

Seems, the Blog dogs are interested in the goods. Caboose, Boxcar, Tanker cars.

Re. the budget and New Green Deal being sold by the bankers. Is it clearer now, that the Old System had to be shut down in March and everything re-made around this new Green Religion/New System? CV is being used to run cover on this.
Fool me once…

It’s been said that the world was conquered using only two words: Asymptomatic, and Mandatory.
This is why you might have lost your business, your profession, your income. They want us working at the Amazon and Walmart distribution centres (which never get shut down for “cases”) at the new global Maximum Wage, $15-20. Which, inflation will eat, up.

In the New System NO ONE gets a free ride. I noted in late March that our lives hereafter will be ruled by the numbers on the telescreens. You have no right to your health, you have no immune system, you only have ‘public health orders’.

https://kitchener.ctvnews.ca/mobile/waterloo-region-s-top-doc-issues-enforcement-order-for-old-order-mennonite-communities-1.5210592
The Section 22 Class Order will come into effect immediately in Old Order, Markham, Old Colony and David Martin Mennonite communities. It will allow for enforcement action to help slow the spread of COVID-19, along with prohibiting social gatherings at private residences with people outside of an immediate household.

#6 Inequity on 12.01.20 at 3:25 pm

Equality is equality… and it means taking the bad with the good… and everyone wants equality right up to the point that it comes to taking the bad.

#7 MF on 12.01.20 at 3:26 pm

All predictable.

When interest rates were dropped to emergency levels, and kept at emergency levels for years after the emergency we all knew there would be repercussions.

Well here they are.

MF

#8 Brian Ripley on 12.01.20 at 3:27 pm

My Monthly Global Covid 19 month-end charts are up:
http://www.chpc.biz/history-readings/pandemic-update2175763

Some data:

Total Deaths per Total Cases = 2%
Total Recovereds per Total Cases =69%

6 month Global Covid 19 % Increases
​Cases = +502%
Deaths = +187%
Recovereds = +660%

#9 Doug t on 12.01.20 at 3:28 pm

I always wanted a pony – thanks “Free”land

#10 Ponzius Pilatus on 12.01.20 at 3:30 pm

Breaking News
ET TU, Bill.
Barr: no evidence of election FRAUD!

There never was. – Garth

#11 BlogDog123 on 12.01.20 at 3:31 pm

“The spending will continue. And your children’s children will look at their marginal tax rates and wonder what the hell their ancestors were thinking.”

Their ancestors were thinking:

“Not my problem! You’re not lowering *my* standard of living with huge tax hikes! Let someone else in the future pay for it! It’s easier for us! Mr. Socks wants everyone to not yell at him for making any tough choices about needs/wants/ services or fat gov’t payrolls.” {covering ears} LA, LA, LA, LA… can’t hear you!

#12 X on 12.01.20 at 3:33 pm

I find the changes to the enhanced First Time Home Buyer Incentive interesting, in that it is such a crappy deal if you end up having to move, I mean, you pay all of the taxes, fees, yet have to split any profits. No Thanks. And in the sense that gov’t didn’t really do anything to make housing more affordable, they did the opposite, by increasing demand and ability to purchase, at the hand of likely further taxes to the rest of us to fund this.

Makes no sense, but I guess statistically it gets you more votes.

#13 Phil on 12.01.20 at 3:35 pm

Good luck with the blog, John…looking forward to it.
I was kinda hoping Turner Nation would win…fox in the chicken coop and all, but then I (and possibly others) would be shopping for something tall and strong!

#14 MF on 12.01.20 at 3:39 pm

Oh yeah, and to that Mattl guy who had trouble formulating an argument without having to resort to some petty attack i didnt read:

If the central bank stopped buying, what is it now? 80 billion/week? of bonds to manipulate interest rates lower, our housing bubble would deflate faster than a whoopie cusion sat on by a sumo wrestler.

Like i said before. There is no price discovery in Canadian real estate. Everything is bloated beyond recognition.

MF

#15 Chris Trejo on 12.01.20 at 3:42 pm

Garth, there is fraud in everything. It is just a matter of how much. It is just like defects in products.

#16 Yukon Elvis on 12.01.20 at 3:42 pm

The number announced Monday was $381.6 billion. The closest guesser came in at… $381.6 billion.

That winner posted here as ‘TANSTAAFL’, whatever that means, and has earned a guest post on a topic of his choosing plus the chance to moderate comments for a day. After being notified of this massive and systemically-significant prize, this was the response from a person we now know is called John.
……………………………….

“John” is obviously Christia Freeland. You have been punked Garth. The odds of guessing the exact right number are 381.6 billion to one.

#17 Prince Polo on 12.01.20 at 3:44 pm

TANSTAAFL…..
There Are Numerous Suckers That Are Actually Financial Losers???

Could be this blog’s sister website, for all we know.

#18 SunShowers on 12.01.20 at 3:54 pm

Good guess and good luck, John.

And if you ever come across a bottle of Old Pulteney 12 year, give it a go. It punches far above its $50 price point.

#19 Wile E. Coyote on 12.01.20 at 3:54 pm

TANSTAAFL…
There ain’t no such thing as a free lunch

#20 Reecer on 12.01.20 at 3:54 pm

There ain’t no such thing as a free lunch

#21 WTF on 12.01.20 at 3:58 pm

My god. It’s hard to envision any subsequent governments being as poorly managed than this cabal of vacuous progressive spendthrifts.

I would vote for Trump over these idiots and he is insane.

Wake me up when this nightmare is over.

Wynn’s Ontario x 10

#22 SoggyShorts on 12.01.20 at 3:58 pm

#252 IHCTD9 on 12.01.20 at 2:50 pm
#248 SoggyShorts on 12.01.20 at 1:51 pm

In 2018 we moved 25 KM to cut our commutes from 20m to 5m and it was totally worth it.
___

Did your mortgage then go from 287K to 900K also?

***********************************
God no, but my rent went up ~$100 for a slightly nicer place.

As I said, there is math that makes a commute worth it, but the number has got to be paying me (or saving me) overtime rates plus expenses at the very least.

#23 IHCTD9 on 12.01.20 at 3:59 pm

That winner posted here as ‘TANSTAAFL’, whatever that means,
_____

There ain’t no such thing as a free lunch.

I like him already.

#24 Greg Franklin on 12.01.20 at 4:03 pm

Reecer, you are so right but the Liberals, NDP, Green Party, Democrats, Labour Party, the left, socialists, communists, marxists etc. make sure they make your lunch spoiled and then steal any new lunches to give to others. What finally happens is we all starve as no lunches left to steal. The parasite dies when the host dies.

#25 rodney knopp on 12.01.20 at 4:04 pm

TANSTAAFL – My Economics 100 prof in the early 80’s hammered that phrase into our 19 year-old brains. “There ain’t no such thing as a free lunch”. And I thank him. It stuck. And I am better for it. BTW his name is Pete Peters. Kamloops TRU (formerly Cariboo College back then).

#26 Al on 12.01.20 at 4:05 pm

“Who is John? What does he do and where’s he live? How’d he possibly know – to the fraction of a billion ”

Pfft. I’m almost always accurate in my calculations, at least to a fraction of a billion. Also, what’s up with ghosting my milketoast comments, user error?

#27 Reecer on 12.01.20 at 4:17 pm

@Greg Franklin, I’m really afraid with the direction we are headed as a county, vote buying is very dangerous. It’s also very hard to unwind run-away social/spending programs. I remember the lessons of the 90’s. I’d like to see some responsible spending, not mortgaging future generations.

#28 IHCTD9 on 12.01.20 at 4:19 pm

#22 SoggyShorts on 12.01.20 at 3:58 pm
#252 IHCTD9 on 12.01.20 at 2:50 pm
#248 SoggyShorts on 12.01.20 at 1:51 pm

In 2018 we moved 25 KM to cut our commutes from 20m to 5m and it was totally worth it.
___

Did your mortgage then go from 287K to 900K also?
***********************************
God no, but my rent went up ~$100 for a slightly nicer place.

As I said, there is math that makes a commute worth it, but the number has got to be paying me (or saving me) overtime rates plus expenses at the very least.
___

Well there you go – a no brainer move on your part.

Ms. IH works with a guy who commutes from Brampton to our swampy Podunk – over 200 freaking km, thru the worst that the GTA 401 has to offer, both ways.

He says he likes driving…

#29 Classical Liberal Millennial on 12.01.20 at 4:24 pm

Congrats, John! You’re lucky Garth doesn’t make moderating the comments a non-negotiable part of the deal.

#30 Adam Smith on 12.01.20 at 4:27 pm

There is if you dine and dash.

#31 Gary C on 12.01.20 at 4:27 pm

Let’s get John a single malt, he will need it after he posts,
and one for Garth, he will need it after he reviews the response.
There is no free lunch but there is a free single malt or two.

#32 R on 12.01.20 at 4:35 pm

Why só much money thrown at housing and not TFSAs expanded ? It would cost less, and have a much bigger financial impact.

#33 Ballingsford on 12.01.20 at 4:35 pm

Does John have a dog? He could write about something interesting in that regard. For example, how come there was nothing in the economic update about writing off vet bills or about money for the creation of more off lease dog parks, or something.

#34 cramar on 12.01.20 at 4:37 pm

Well, when Garth announced a free post plus editing as the “reward” for a lucky guess, I decided not to guess. What if I guessed $381.6 Billion and won? No thanks! Then again if faced with it I do the logical thing. Post and shut down the comments for the day.

#35 Drinking on 12.01.20 at 4:42 pm

#16 Yukon Elvis

Too funny! I was going to say the same thing, at least related in some way!

Good luck John; looking forward to it!

#36 Oakville Rocks! on 12.01.20 at 4:43 pm

Wait, Garth, how can you declare a winner before Nonplused has ruled on whether or not Benford’s law makes the result seem suspicious? I mean what are the odds that someone guessed the exact number – Rudy smells a rat. Have you verified that this “John” is not Cuban, Venezuelan or a Kraken.

And I see that Barr and the Justice department cannot find any evidence of electoral fraud either. You know what this reminds me of? 2016, when the full force of the US Justice department was sent in search of the electoral fraud that cost DJT the popular vote. Same result then. Funny that.

As it is December and it snowed here in paradise (Oakville of course) I think we should talk Christmas music. Here are some ideas for sounds to keep your Covid hibernating toes tapping.

I just picked up The Vince Guaraldi Trio’s A Charlie Brown Christmas – it is fantastic, especially if you are not big on singing and just like the music to read by, cook by, repair a tractor by etc.

An Oscar Peterson Christmas is also great for late night listening by the fire.

If you prefer more traditional arrangements of the standard Christmas songs – perhaps try Windham Hill Jazz’ Winter Solstice series.

If you like singing and fun – Ultra Lounge’s Christmas Cocktail series (1 – 3) will put a smile on your face. All the usual suspects show up. I especially love Sammy Davis Jr & Carmen Mcrae’s version of Baby It’s Cold Outside.

And perhaps the best Christmas record of all time Ella Fitzgerald’s Ella Wishes You a Swinging Christmas.

Lastly, Garth will likely hate her, but Sia’s all original Everyday is Christmas from 2017 is a fun bit of fluff. How can you not like a record that includes the song Puppies are Forever (not just for Christmas).

#37 Bill on 12.01.20 at 4:44 pm

Trudeau’s red ink hit $381 billion this week, there was barely a ripple.
———————–
Just buy the media then no issues.

You can put this on the fridge….If fully invested take some off the table we had a hell of a run and the good news is baked in.
The next bit is a time for caution.
Blew out my weed stock for a 100% return in 4 weeks.

No free gov clams for me or wifey….Don’t care.
Prolly a $400k year for me. Lost count it don’t matter.
Happy to pay my fair share taxes but there’s but there’s no amount that will fill the black hole. Interest rates will rise then the SHTF…
No one even wants to buy Knucklehead head bonds = broke.
Funny how easy it is to control the broke and or indebted….it takes very few clams. They got you right where they want you.

#38 Bob in Hamilton on 12.01.20 at 4:47 pm

“The closest guesser came in at… $381.6 billion.

That winner posted here as ‘TANSTAAFL’, whatever that means, and has earned a guest post on a topic of his choosing plus the chance to moderate comments for a day.”

I demand a recount…..

#39 Hairhead on 12.01.20 at 4:52 pm

I’m not surprised people here know what TANSTAAFL means (There aint’ no such thing as a free lunch). What I am surprised by is that no-one has noted that the saying came out of the mouth (and pen) of right-wing libertarian science-fiction writer Robert A. Heinlein.

I look forward with keen interest to “John”‘s column!

#40 Faron on 12.01.20 at 4:54 pm

First name John, last name Doe by any chance?

I suspect an inside job. All the better that “he” seems to be somewhat open to facts as anyone with eyes can see them. And thankfully “he” can write. I’d have to take a hard pass if TurnerNation or Nonplused had won…

Just bought a home so looking forward to that $400!

Looks like we juust missed the shared interest limit by a mere $6,000…

Alas.

#41 Jake on 12.01.20 at 4:57 pm

Chrysianomics…. or maybe Freenomics?

#42 Dolce Vita on 12.01.20 at 4:58 pm

“You’ll soon have the chance to punish him badly.”

Advice to “John”, purchase in advance:

1. Short legged table.
2. White table linen.
3. Tantō or wakizashi.
4. White, loose fitting silk robes.
5. Cushion or throw mat.

…rethink the Single Malt.

#43 Steve French on 12.01.20 at 5:01 pm

One of the great tragedies of the Greater Fool blog, never to be remedied, is that Smoking Man was never granted a guest post.

#44 Search for meaning on 12.01.20 at 5:06 pm

TANSTAAFL – there ain’t no such thing as a free lunch.

#45 riken on 12.01.20 at 5:11 pm

isn’t 381.6 billion about 100,000 per person

#46 Inequity on 12.01.20 at 5:12 pm

#16 Yukon Elvis

it is one in 381.6 billion, only if it was pick a number between 1 and 381.6 billion.
But there was no upper limit imposed on the guesses…. so its technically the odds are one in infinity.
Funny that no one guess a negative number (budget surplus). :P

#47 Piano_Man87 on 12.01.20 at 5:13 pm

Disappointing. Someone guessed the exact deficit down to the tenth of a billion and Garth didn’t even say the word “leak” or “inside.”

Speaking of that. Pardon me, I need to go use the box. They aren’t measuring the covid in MY waste.

PS I guessed 400B and I don’t work for the feds.

#48 Barb on 12.01.20 at 5:18 pm

Go for it John.
And include stuff about YOU, what do you do for a living.
Oh, and can I have your lottery numbers…

#49 Wrk.dover on 12.01.20 at 5:19 pm

My OAS is uppa by about fitty cent on the latest bank statement!!!

How many billion is that gonna run?

#50 Dolce Vita on 12.01.20 at 5:21 pm

“And the economy roared ahead 40% in Q3 after being crushed 38% in Q2.”

Oh Garth.

Up is good. Way up is exaggeration.

StatCan chart showing we are still down from Feb. 2020 GDP (but yes, the Phoenix rises and getting oh so close to where we were):

https://www150.statcan.gc.ca/n1/daily-quotidien/201201/cg-b001-eng.htm

And apples to apples Garth, from the horse’s mouth, StatCan (Gross domestic product, income and expenditure, third quarter 2020):

“Real gross domestic product (GDP) grew 8.9% in the third quarter, following an 11.3% drop in the second quarter and a 1.9% decline in the first.

Despite strong growth in the third quarter—the steepest since quarterly data were first recorded in 1961—real GDP was down 5.3% compared with the fourth quarter of 2019.”

https://www150.statcan.gc.ca/n1/daily-quotidien/201201/dq201201a-eng.htm?HPA=1

Aug to Sept 2020 GDP growth = 0.8%.

3rd Qtr Household spending went up BUT:

Household disposable income = -3.1%

—————————-

Agree 4th Qtr will be a step back again in GDP but I remain optimistic like you Garth, the Little Economy that Could and Does strutted its stuff in 3rd Qtr with the DAMN VIRUS at bay if only for a brief Summer.

Imagine what the Cdn economy can do sans S. L. Pathogen and avec herd immunity?

The Phoenix Rising will be green with envy and unlike Icarus, Canada’s economy has no wax wings…more like rocket engines is what I predict.

#51 some guy on 12.01.20 at 5:32 pm

Lecturing people on the internet about getting vaccinated is like farting into the wind.

#52 Dolce Vita on 12.01.20 at 5:36 pm

A final missive.

1 distressing. 1 about UK Beavers.

————

1. Distressing from La Parisien today:

Covid-19 : vacciné mais contagieux, est-ce possible ?

La Haute autorité de santé estime que les vaccins sont efficaces contre les formes graves du coronavirus, mais a un doute sur leur capacité à empêcher toute contagion.

https://www.leparisien.fr/societe/covid-19-vaccine-mais-contagieux-est-ce-possible-01-12-2020-8411512.php

Tried to subscribe, pay for a month to get the whole article but even as an EU citizen they would not let me, only the French can subscribe.

Serious enough to me that I Tweeted Gov Canada about this and Cdn MSM if they can do some journalism about this.

———————-

2. Slow on the uptake UK Beavers.

You know, they could have just imported some Canadian beavers to show them how.

“Beavers build first Exmoor dam in 400 years”

https://www.bbc.com/news/uk-england-somerset-55125932

[scroll to the last photo in the article…that has to be the sorriest looking beaver dam I ever seen – it made me feel sorry for them]

#53 DON on 12.01.20 at 5:38 pm

Could call it a Dear John letter.

Congrats John for a seemingly exact number.

@MF Mattle doesn’t get that the opposite of what has been happening is an extreme downside.

#54 yorkville renter on 12.01.20 at 5:39 pm

TANSTAAFL = There ain’t no such thing as a free lunch

#55 Yukon Elvis on 12.01.20 at 5:40 pm

#46 Inequity on 12.01.20 at 5:12 pm
#16 Yukon Elvis

it is one in 381.6 billion, only if it was pick a number between 1 and 381.6 billion.
But there was no upper limit imposed on the guesses…. so its technically the odds are one in infinity.
Funny that no one guess a negative number (budget surplus). :P
…………………
yer prolly rite. I wuz nevr veri gud att mathe.

#56 Lawyer-Elite Task Farce on 12.01.20 at 5:41 pm

Don’t know why but I often remember, at times like these, when Joe Clark truthfully said the price of gas needed to go up two cents I think it was and promptly lost. His successor raised in a nickle I think it was. Simpler times.
No doubt there needed to be some government help during this pandemic but not without thought or a plan. Well save a plan to be re-elected I suppose.

#57 yorkville renter on 12.01.20 at 5:42 pm

Hey Garth – delete my very uninformative and repetitive post on what TANSTAAFL.

It’s not like I was going to read 50 comments first!

#58 NoName on 12.01.20 at 5:50 pm

I have no interest in moderating the comment section. I can afford the therapist but I don’t think I can carry the cost of the single malt required to wade through that particular ocean. -J

John dont be chiken and not moderate coment section.

1st single malt is over rated.
2nd you should go this Canadian Rye aged in bourbon barrels or Canadian made brandy made out of Chardonnay, Pinot Meunier + Pinot Noir. Any of those two will definitely get you thru moderating comments, and with a smile to.

Keep in mind this this rye is not for amateurs, brandy is more smooth, refined and civilized ask do they have any brandy left.

side note (henesie vosp good, yes its that good)

rye
https://www.instagram.com/p/CII6VecrARB/

brandy
https://www.instagram.com/p/CGnGwNhrwsn/

#59 MicroGX on 12.01.20 at 5:51 pm

haha that’s awesome! 381.6b bang-on, wow, Go John! look forward to the post.

#60 Richard on 12.01.20 at 5:52 pm

Let me guess, second prize was two free columns.

#61 Mortgage renewal on 12.01.20 at 5:52 pm

Thanks for the blog Garth
Congratulations John

Now just to be sure I read your letter correctly.
Your friend is working on a COVID vaccine and he loves gold, hmmmmm should we read something into that!

Rules are rules you have to moderate the comments.

Now my big news I was able to renew my mortgage today
HSBC posted rate jumped today to 1.79 from 1.64 last week, I was worried as I called my bank to renew……

Called BMO last week and was told 1.78 so I was prepared for an increase.

My squeeze and I called the bank yep I can give you 1.78 for five year fixed. And I said can you do better. He said 1.73, but I will call head office for you and see if we can get a better rate. I hinted at HSBC was 1.64, did not mention that it was last week.
An hour later we signed the papers electronically and the rate……
Drum roll……..
1.68
Wow I think that’s fantastic. We are really happy.
I think this is the bottom.
Have a great day everyone.

#62 Dolce Vita on 12.01.20 at 5:56 pm

VACCINATION – in Italia.

This from Italia’s rock solid La Repubblica 13 min ago:

“Vaccine plan, 202 million doses since January. It will be injected into gyms, trade shows and open spaces”

[Google Translate means “from” not “into”]

60.4 million Italians. 2 doses. Way more than Italia needs.

Distributed from +300 hospitals all over Italia to mass injection locations (and from the hospitals of course).

Pfizer and 2 other vaccines (Italia is manufacturing at least 2 vaccine types that I know of, 1of them at 2 Billion doses per year).

Starts January 29th. Vaccines to be available between January 23-26.

Italian Health Ministry will will continue vaccination until the first months of 2022.

————————

Hopefully Canada receives like news very soon and as well.

https://www.repubblica.it/cronaca/2020/12/01/news/piano_vaccini_202_milioni_di_dosi_da_gennaio-276628837/?timestamp=1606852256000

#63 NoName on 12.01.20 at 5:57 pm

#45 riken on 12.01.20 at 5:11 pm
isn’t 381.6 billion about 100,000 per person

you have one zero to many…

#64 TFSA strategy on 12.01.20 at 6:00 pm

Great blog Garth
Congratulations to John, a little insider info to hit the number exactly ha ha. Well done!

So here’s my TFSA strategy.
My wife and I save $1,000 a month to deposit into our TFSA in January2020. We earned $60 in interest.

So I pondered can I do better?
So I borrowed $12,000 his week for 2022 this and bought
400 shares ZWB earning 6.5 percent and
400 sHares ZWU earning 8.18 percent.

I will share with the blog my progress for the year including dividends earned interest paid and capital gains and losses.
Hope I spark some discussions
Cheers

#65 RyYYZ on 12.01.20 at 6:01 pm

All I want to know anymore is: Where’s my cut of all this government largesse? Oh, that’s right. It’s the dopes like me that are going to paying for this. You know it won’t be old money types like Morneau or Trudeau. No, they’ve had, and taken, every opportunity to protect themselves.

Well, at least I guess I get my cut by being invested in the equity markets. There are some advantages to having some capital, I guess.

#66 Balmuto on 12.01.20 at 6:01 pm

“#43 Steve French on 12.01.20 at 5:01 pm
One of the great tragedies of the Greater Fool blog, never to be remedied, is that Smoking Man was never granted a guest post”

Is John the reincarnation of Smoking Man? Just putting that out there…

#67 Don't Believe The Hype on 12.01.20 at 6:02 pm

Your closing paragraph today defines two reasons why (among many others), your blog is a must-read for some of us, Garth: humour and self-deprecation.

#68 Frank N Beans on 12.01.20 at 6:08 pm

I, for one, am on the edge of my chair in anticipation of what John has to say. Who is John? What Would
John Do? WWJD

#69 Dave on 12.01.20 at 6:21 pm

I do love a good ending. Thanks Garth for letting the steerage section let the cream rise to the top.

and.. Dear John, please don’t cock it up.

#70 Paul B on 12.01.20 at 6:38 pm

#45 riken

It’s closer to $10K per person, not $100K…still awful, but my heart skipped a beat when you said $100K.

#71 Habitt on 12.01.20 at 6:39 pm

So sir Garth. Is it four hundred bucks you don’t pay tax on or four hundred bucks of tax savings? I believe it’s 4 hundred you don’t have to pay on. Big deal. Suspect they want to get away from the deductions from WFH. Your post was most ambiguous.

#72 cy on 12.01.20 at 6:48 pm

Garth.

If John does not want to do a column, why not let someone that was close to the 381 billion do it. In my professional opinion, I guessed 385. What’s 5B when it may be over 400B when the accountants are finished with their rounding.

#73 Eric on 12.01.20 at 6:49 pm

John=Christia???

#74 Nonplused on 12.01.20 at 6:52 pm

John seems like a nice, articulate, intelligent guy. I’ll go easy on him. But not too easy….

“What a mixed-up world. Stephen Harper suffered the wrath of media hell with a deficit of $56 billion during the credit crisis. When Trudeau’s red ink hit $381 billion this week, there was barely a ripple.”

Hmmm I wonder if all that money Trudeau gave to the struggling MSM had anything to do with it? Or could it just be that the MSM leans so far left that they fell over?

It is time for all of us to realize that the concept of “freedom of the press” ranks up there with “freedom of speech” as one of the biggest lies of all time. Fox News comes about as close as anything to a contrary opinion in the MSM, and only when Tucker Carlson or “The Five” is on. The real news is out there, but you have to know where to look because Twitter and Facebook censors all of it. Even YouTube censors stuff that they could make a lot of money off, whether it be true or false, but they leave the “flat earth” stuff monetized. There are only “political truths”, there are no “scientific truths”, when it comes to monetization.

#75 Nonplused on 12.01.20 at 7:03 pm

PS I love the Twitter stamp “This claim is disputed”. They could go ahead and put that on everything on Twitter if they were being honest. But nope, they put it mostly on Trump tweets, as if everyone didn’t already know it was disputed.

#76 Bezengy on 12.01.20 at 7:04 pm

381.6 b eh? Kinda reminds me of Bill Morneau promising a 10 b deficit and then delivering a shortfall three times that amount.

https://nationalpost.com/news/politics/federal-budget-2016-liberals-project-30b-deficit-with-no-plan-to-return-to-a-surplus-by-2019

btw….TANSTAAFL, what are your 6 favorite numbers from say 1 to 50?

#77 Dolce Vita on 12.01.20 at 7:13 pm

Europe: Just Another Day of COVID-19.

Garth, I know you didn’t like my “Renaming of an Austrian village” comment from the other day and did not run it. You will probably not not run this either but I will try and “Politically Correct SJW it” as is possible.

-Let the bullets fly My Liege. If not, Mea Culpa…again.

———————

Apparently, the German town of Kempten has had its “MASCULINITY” stolen which was atop mount Grünten, in Bavaria.

Italia MSM take, somewhat sympathetic, could not resist taking a “jab” at DISTRAUGHT Deutschland:

“A Cultural Monument” (Monumento Culturale – in Italian), no other translation necessary in the video:

https://video.repubblica.it/mondo/germania-il-mistero-della-statua-a-forma-di-pene-scomparsa/372130/372735?ref=RHTP-BS-I270682269-P2-S3-T1

Poor Deutschland. Kempten Polizei hot on the case of their purloined artifact. All I want to know is where are the thieves going to store it or showcase it? It is not exactly SOFA TABLE friendly.

Yup, Just Another Day of COVID-19 in Europa.

#78 john on 12.01.20 at 7:15 pm

Isn’t the deficit $100 billion greater?

#79 Erik on 12.01.20 at 7:17 pm

What in Chrystia’s name is going on with people misspelling “lose” as “loose”?

John may be intelligent, but there is some sort of other pandemic going on affecting internet user’s, and their inability to spell properly when it comes to “lose” vs “loose”. Terrifying stuff.

#80 Nonplused on 12.01.20 at 7:19 pm

#10 Ponzius Pilatus on 12.01.20 at 3:30 pm
Breaking News
ET TU, Bill.
Barr: no evidence of election FRAUD!

There never was. – Garth

——————————-

“Trust, but verify.” (Reagan I think, speaking about the nuclear arms treaty.)

“Absence of evidence is not evidence of absence.”
(Martin Rees)

“There is much corruption within a nation.” (Nonplused and others)

“Biden should not concede under any circumstances.” (Hillary, paraphrased slightly)

#81 Darryl on 12.01.20 at 7:19 pm

SunShowers on 12.01.20 at 3:54 pm
Good guess and good luck, John.

And if you ever come across a bottle of Old Pulteney 12 year, give it a go. It punches far above its $50 price point.
————/////
You must be from Alberta. $75 in Ontario.

#82 John in Mtl on 12.01.20 at 7:32 pm

@ #62 Dolce Vita on 12.01.20 at 5:56 pm

…Pfizer and 2 other vaccines (Italia is manufacturing at least 2 vaccine types that I know of, 1of them at 2 Billion doses per year). …

So I guess Italians like being guinea pigs for the pharmaceutical companies eh? Follow the money, follow the money!

#83 Darryl on 12.01.20 at 7:32 pm

Hey John
What are this weeks lottery numbers?
PM me .

#84 Paully on 12.01.20 at 7:39 pm

John sounds like a thinking man. I look forward to his post!

#85 JM on 12.01.20 at 7:42 pm

Home prices rising, markets going up, gold going up, grocery bills becoming unafordable, etc…everything to the moon. Is that the definition of asset inflation? Nothing is really worth more, money is just worth less.

Just lazy politicians lacking the backbone to be competent and accountable.

#86 KNOW IT ALL on 12.01.20 at 7:54 pm

JOHN has a friend who is a deep believer in GOLD.

He has chosen his company WISELY.

We will be nice and polite to JOHN.

#87 FriedEggs on 12.01.20 at 7:58 pm

Who is John Galt?

#10

Barr never really ‘finds’ anything interesting in his investigations. Remember, he concluded Epstein killed himself, with the cameras off…in a suicide prevention cell.

Nothing to see here.

#88 Yuus bin Haad on 12.01.20 at 8:03 pm

Did anyone else get an email from an R. Hillier asking if he could rent space in your freezer?

#89 Flop... on 12.01.20 at 8:05 pm

Given up on these social media sites.

I usually adopt something about 15 years after everyone else, anyway.

Parler sucks too!

I went over there with bowl and spoon in hand.

They don’t even have any bloody ice cream.

Wrong type of parlour apparently…

M46BC

#90 Spectacle on 12.01.20 at 8:07 pm

Congrats John, we all wish we had won. Do the piece, you exhibit phenomenal rationlity my friend! I await your column.

In similar news, Heritage real estate is dimping properties in YVR! Nevet happebedvin history.

Some see the increase in listings as a comment on the restrictive rental laws in Vancouver, but Coulson believes it reflects a pent-up release after markets stalled this spring due to the pandemic.

Others say they could be an early warning of a potential change in capital gains taxation early next year in the delayed federal budget. ”

Im most interested in exactly who buys said prooertues now.

#91 Drinking on 12.01.20 at 8:08 pm

I dare Felix to give that good looking doggie in today’s pic a little kissie! This should be good! :)

#92 Spectacle on 12.01.20 at 8:15 pm

” but budgeths balanth themthelves …..”

Oh gosh, I fell for that one as well ?

#93 Where's My Fair Share? on 12.01.20 at 8:15 pm

As a single income family of 6, that grossed 55,000$ last year, where is our fair share? With four kids under 18 who all had to adjust to at home learning from March -June and now again beginning this week until Jan.11, what’s in it for us? Working parent is a health care worker in a hospital, no option to work at home.

Coming up in the New Year, union negotiations with the Province who wants a 10-15% pay CUT. (Cause you know, private sector employees had to take a cut so public sector workers should too. Ironic thing about that is when times were good private sector employees got bonuses and performance raises, public did not. In fact our wage has been frozen for the last four years, not even cost of living increases)

CPP premiums increasing = lower take home pay.
No Covid tax deductions or extra payments for us. Increase in CCB announced yesterday is only for kids under 6, not ours.

My point is not everyone is enjoying these “free” handouts and saving money. Some of us are spending more with kids at home full time and extra expenses due to Covid with no government handouts.

#94 Trawna on 12.01.20 at 8:23 pm

“TANSTAAFL”? John’s last name must be “Galt”.

#95 Bob Dog on 12.01.20 at 8:26 pm

DELETED

#96 Flop... on 12.01.20 at 8:35 pm

Hey Speckie, you might be interested in this gory story doing the rounds on Twitter.

Apparently a dude in Vancouver speculated on a block of land, gambling that the zoning was going to change.

Paid 16 million.

12% loan.

All went to crap.

Took a 7 million dollar bath.

Sounds more like consortium numbers to me for something like that but the biggest band aid I ever put on was 2 inches by 2 inches.

That won’t stop the blood from a 7 million dollar gash…

https://mobile.twitter.com/mortimer_1/status/1332884487336722432

#97 morrey on 12.01.20 at 8:46 pm

John – I have just returned from buying a bottle of Laphroaig. I am going to have a few drams as i read your guest posting. Cheers. And Break a leg!

#98 april on 12.01.20 at 8:51 pm

Garth for an 80 yr old, renting in Vancouver, 250 to invest, they want to know how much interest can they expect on that amount… low risk people.
Thanks………

#99 Mr Canada on 12.01.20 at 8:53 pm

Go for it Johnny ! Your writing style is very advanced, you could be a permanent writer for Mr Turner.

When T2 started throwing around $90B pre-covid, I just wanted a pony, $300 billion later, man, Justin, forget the pony, I want a friggin Uni-corn !!

#100 willworkforpickles on 12.01.20 at 8:58 pm

2 hours before the 4.00 pm Freeland announcement of $381.6 Billon I did a little research and came up with a figure of $383 Billion that i posted in the 2nd post of the comment section yesterday (wouldn’t have counted). I’m not an insider, but came close with that number (outsider?… i can see Canada looking south and east from various points) but off by $1.4 billion.
Spared this site by my not winning with a guest blog expanding on the topic of inflation/stagflation as a focus based from hundreds of hours of my own research.
The tiny bits I have posted to date with regard to looming inflation/stagflation have had virtually no interest here I think because were not quite there yet.

#101 Tyberius on 12.01.20 at 9:01 pm

#63 NoName on 12.01.20 at 5:57 pm

#45 riken on 12.01.20 at 5:11 pm
isn’t 381.6 billion about 100,000 per person

you have one zero to many…

———–

And you have one “o” too few!

#102 joblo on 12.01.20 at 9:01 pm

So, whatta gonna do?

#103 Nonplused on 12.01.20 at 9:06 pm

#36 Oakville Rocks! on 12.01.20 at 4:43 pm
Wait, Garth, how can you declare a winner before Nonplused has ruled on whether or not Benford’s law makes the result seem suspicious?

———————————

I rule in this case there has been no suspicious activity and John’s guess was well within the standard distribution, quite close to the mean actually. No 6 sigma event here.

Rock on John.

Also not much at stake as compared to a US presidential election.

#104 SOMETHINGS UP! on 12.01.20 at 9:13 pm

Paul Rochon, Finance Canada’s highest-ranking bureaucrat for the past six and a half years, announced internally on Tuesday that he would be stepping down from the job effective December 14.

https://www.theobserver.ca/news/politics/finance-canadas-top-bureaucrat-announces-departure-day-after-the-governments-fall-economic-update/wcm/2d3b078c-801b-4941-ba7a-9aeb76e0e212?video_autoplay=true

#105 S.Bby on 12.01.20 at 9:25 pm

Woo Hoo!
$800 smackers for me and the wife. We finally get a freebie from Justin.

#106 Ponzius Pilatus on 12.01.20 at 9:28 pm

TN saw it coming.
NACI.
National Advisory Committee on Immunization.
Hide the women and children.

#107 Simon Chalkland on 12.01.20 at 9:31 pm

“And your children’s children will look at their marginal tax rates and wonder what the hell their ancestors were thinking.” No that is not what they will think, instead the educated among them will already know about how Canada among the G9 was once again a beacon of egalitarian politics and thinking in the time of Covid-19.

#108 VicPaul on 12.01.20 at 9:33 pm

#80 Nonplused on 12.01.20 at 7:19 pm
#10 Ponzius Pilatus on 12.01.20 at 3:30 pm
Breaking News
ET TU, Bill.
Barr: no evidence of election FRAUD!

There never was. – Garth

——————————-

“Trust, but verify.” (Reagan I think, speaking about the nuclear arms treaty.)

“Absence of evidence is not evidence of absence.”
(Martin Rees)

“There is much corruption within a nation.” (Nonplused and others)

“Biden should not concede under any circumstances.” (Hillary, paraphrased slightly)

*********

Thanks NP for your logical, fair-minded, well-worded contributions.
The insanity that some people are able to look past as they sling dung is astonishing…or willfully disingenuous.

I used to care but, things have changed.*

M56BC

* Bob Dylan May 2000

Trump lost. You people are delusional. – Garth

#109 Randy on 12.01.20 at 9:35 pm

Update Garth!
#149 Randy on 05.28.20 at 12:07 am

Hello Garth!
I’m dealing with an estate property. It’s assessed value of $463.000 in 2019. We have it listed through a real estate firm for $498.000. After two weeks only 4 showings and seems like the interest just is not there even with feature advertising. The agent said they don’t get houses like this often. It’s a large bungalow, built 1988 and is dated. Any advise would be nice.
—————————————————————–
The worst time to get greedy on price is when the country is in a recession and unemployment probably reaching 30%. Lower the price by 20,000 below assessed and if you get an offer close to that, grab it. Otherwise, you could end up holding it for several years and become a reluctant landlord. And that is something you don’t want to become right now. So, lower the price and unload that albatross. I know someone in same situation in Okanagan. Close to a year and still not sold and not realizing how bad things are going to get.

We lowered the price by 45k below professional appraisal and the best we could get was 65k below appraisal. The would be buyers started to nickel and dime us and we finally got peed off so we kept the house and decided to rent it out. Less than a week on the market we got renters and we’re getting 3.5% return after fixed costs from a young family. Long road——- thanks!

#110 Ponzius Pilatus on 12.01.20 at 9:42 pm

Poor CEF.
He’s posting his butt off and now some John who hardly ever posts gets to guest blog on this prestigious blog.
Personally, I’d love to see him to get a chance.
I’m sure a lot of teachers and public servants would phone in, and he’d ban most of them.
I feel for you, Fartzie.

#111 Ponzius Pilatus on 12.01.20 at 9:48 pm

CEF.
To further console you, I’m sure Garth will soon have a contest of who can tell the best rendering plant anecdote.
And you’ll win that one hands down.
Cheer up, fame and fortune is awaiting.

#112 Ponzius Pilatus on 12.01.20 at 10:00 pm

#100 willworkforpickles on 12.01.20 at 8:58 pm
2 hours before the 4.00 pm Freeland announcement of $381.6 Billon I did a little research and came up with a figure of $383 Billion that i posted in the 2nd post of the comment section yesterday (wouldn’t have counted). I’m not an insider, but came close with that number (outsider?… i can see Canada looking south and east from various points) but off by $1.4 billion.
Spared this site by my not winning with a guest blog expanding on the topic of inflation/stagflation as a focus based from hundreds of hours of my own research.
The tiny bits I have posted to date with regard to looming inflation/stagflation have had virtually no interest here I think because were not quite there yet.
————–
You have a case. You should take it to the Supreme Court.
I hear, Giuliano is available

#113 Steerage on 12.01.20 at 10:05 pm

#108 VicPaul on 12.01.20 at 9:33 pm

#80 Nonplused on 12.01.20 at 7:19 pm
#10 Ponzius Pilatus on 12.01.20 at 3:30 pm
Breaking News
ET TU, Bill.
Barr: no evidence of election FRAUD!

There never was. – Garth

——————————-

“Trust, but verify.” (Reagan I think, speaking about the nuclear arms treaty.)

“Absence of evidence is not evidence of absence.”
(Martin Rees)

“There is much corruption within a nation.” (Nonplused and others)

“Biden should not concede under any circumstances.” (Hillary, paraphrased slightly)

*********

Thanks NP for your logical, fair-minded, well-worded contributions.
The insanity that some people are able to look past as they sling dung is astonishing…or willfully disingenuous.

I used to care but, things have changed.*

M56BC

* Bob Dylan May 2000

Trump lost. You people are delusional. – Garth

When your own lawyer is seeking a preemptive pardon… ya know the gig is up!!.. The rats are swimming…

#114 n1tro on 12.01.20 at 10:16 pm

2020 has been one of the best years for personal finances. Just an example of “someone” I know…

1. $1500 fitness credit from work to buy 43″ 4K monitor along with noise canceling bluetooth headset for those conference calls
2. $250 extra from work to buy a gaming…I mean ergo chair for extended work from home
3. $12,000 CERB
4. $200 from Ontario home schooling money
5. $10,800 CRB
6. $200 from Ontario round 2 for home schooling money
7. $400 from Feds for work from home expenses

Most Canadians won’t be able to get a vaccine till fall 2021. Me thinks free money will be extended since I’m told we are all in this together.

#115 SoggyShorts on 12.01.20 at 10:25 pm

#28 IHCTD9 on 12.01.20 at 4:19 pm

Ms. IH works with a guy who commutes from Brampton to our swampy Podunk – over 200 freaking km, thru the worst that the GTA 401 has to offer, both ways.

He says he likes driving…
*****************************
Be honest, does he have an amazing car, or are his wife and kids a nightmare?

#116 Out Of Work CEO, Will Travel on 12.01.20 at 10:33 pm

If this was a blog in the interests of “sci-fi affectionados” we would all be ohing and ahing and in unison stating the contest was not fair as the rules should have voided “bots”. Not fair.

#117 Canadian Moose on 12.01.20 at 10:50 pm

Ah shucks John. Congrats, once in awhile you need to less loose, drinking and this comment section go hand in hand. Just ask our dearly departed Smoking Man! May he RIP.

#118 Lead Paint on 12.01.20 at 10:54 pm

Oh no, not John… anybody but John.

#119 Linda on 12.01.20 at 10:59 pm

TANSTAAFL, as per others who deciphered the acronym, stands for ‘there ain’t no such thing as a free lunch’. I believe it first appeared in one of the stories by SF author Robert A Heinlein.

#120 Magic Mike on 12.01.20 at 11:06 pm

#13 Phil on 12.01.20 at 3:35 pm

I was kinda hoping Turner Nation would win…fox in the chicken coop and all, but then I (and possibly others) would be shopping for something tall and strong
____________________________________________________

Why would you hope for that? Each one of his posts are already longer than Garth’s.

Besides, as soon as I see his name, I skip over it. Couldn’t tell you one thing he has ever said. Anyone who thinks they deserve that much of my time couldn’t be more wrong!

Hmmm…. If only there was a way to click on an icon to show my “dislike”. I’ll think about it and let you know what I come up with.

#121 Nonplused on 12.01.20 at 11:25 pm

“Trump lost. You people are delusional. – Garth”

Correction. “It looks like Trump will lose.” He hasn’t lost anything yet. He probably will though, I will give you that. But remember it is 2020 and the year has to top covid and “murder hornets”.

But whether Trump or Biden gets declared president as things unfold, one thing we know for sure: The political divide in the US will only deepen. Of the about 150 million people who voted, no matter the results about 75 million are going to see the election as illegitimate. They need to fix that up. Without trust a vote is of no use. If Trump’s lawsuits manage to prove without a shadow of a doubt that Biden legitimately won the election then that will be a great parting gift. And he has to do it, because his followers would expect nothing less. Then he can go off to Mar-a-Lago and golf.

#122 Long-Time Lurker on 12.01.20 at 11:47 pm

Zoolander 3. Script update.

Location: The office of Hemlock Roans, detective.

Mr. Wilson looks up from “Exhibit A” to Hemlock Roans.

Wilson: “Prime Minister Zoolander used the exact same phrases as the writer on the Global Economic Committee’s website.”

Roans: “Yes, there’s a disclaimer at the bottom that says it doesn’t necessarily reflects the views of the G.E.C., yet there it is on their website.”

Wilson: “The other national leaders are also using the same phrase. A coincidence?”

Roans: “Unlikely. Zoolander is using it so they likely also heard it at the G.E.C.”

Wilson: “What does it mean, Roans?”

Roans: “I’ve done some investigation. Karl Swab was a leader of the Burgerbilders. The not-so-secret elite who meet every so often to discuss global matters. He is also the founder of the G.E.C. which famously meets at Davas to also discuss global matters. Basically, the elites are making up their plans for the world.”

Wilson: “Build Back Better? The Great Reset?”

Roans nods.

Roans: “Swab’s Reset book can be found for free on the internet in pdf form. I’ve looked over it. He has a flair for stating the obvious.”

Wilson: “What are their plans?”

Roans: “Swab is distinctly vague in this book but there is an article on his website which is more revealing. It’s all sufficiently vague — but the devil’s in the details. Quite frankly, I think his intellect is over-rated. I’m still puzzled as to why princes, prime ministers and presidents flock to him.”

Roans lifts up “Exhibit AN” to Wilson for him to look at.

#123 The Chosen One on 12.01.20 at 11:59 pm

#64 TFSA strategy on 12.01.20 at 6:00

So here’s my TFSA strategy.
My wife and I save $1,000 a month to deposit into our TFSA in January2020. We earned $60 in interest.

So I pondered can I do better?
So I borrowed $12,000 his week for 2022 this and bought
400 shares ZWB earning 6.5 percent and
400 sHares ZWU earning 8.18 percent.

I will share with the blog my progress for the year including dividends earned interest paid and capital gains and losses.
Hope I spark some discussions
Cheers
___________________________

ZWU. The holdings of this fund are based on the fact that they have option chains with sufficient liquidity, always pretty sad in Canada. Not always the best choice of underlying securities.
I owned this for a few years, made a few bucks and decided to get rid of it given its lackluster performance.

ZWB. Would have been a great choice 6 months ago. Now you will have to be satisfied with mediocre returns.

Full points for planning. Half points for execution.

Overall, you will regret being a pauper when you could have been a prince.

#124 Capt. Serious on 12.02.20 at 12:11 am

Until there is some market force that stops governments borrowing (which is largely being facilitated by the central banks buying the debt), this will continue until this Covid episode is over. The trick will be reigning things back in. Seems certain now that we’ll see this kind of borrowing whenever there is a crisis in future. I’m honestly amazed that they’ve managed to avoid pitching the broader economy into collapse — in March it was not obvious this would be the outcome.

#125 NoName on 12.02.20 at 12:23 am

#101 Tyberius on 12.01.20 at 9:01 pm
#63 NoName on 12.01.20 at 5:57 pm

#45 riken on 12.01.20 at 5:11 pm
isn’t 381.6 billion about 100,000 per person

you have one zero to many…

———–

And you have one “o” too few!

Took me while, but see what you did there, now. You’ll pay for this as sun as gargle fix my spell checker.

#126 crowdedelevatorfartz on 12.02.20 at 12:47 am

@#111 Ponzie Plot

Oh Ponzie!
You missed me!
How quaint.
Unfortunately.
Austrian humor always escapes me.

I find German comedians beat you hands down with the hilarious Grimm’s Fairy Tales ironic endings.

#127 Nonplused on 12.02.20 at 12:51 am

“Trump lost. You people are delusional. – Garth”

Maybe Trump lost. We will find out as the system exerts its’ various mechanachines. But what you are doing here Garth is some form of mind reading or fortune telling.

I never would have considered you an astrologist.

We must wait.

And regardless, about half the people that voted will consider this election as illegitimate.

Even CNN didn’t call the election on Nov. 3rd. Not that they have any power to do so.

So Garth, please stop. If Trump wins though some kind of miracle you will be permanently damaged. No reputation. No ability to gather new clients.

Biden is probably going to win. Dog save us.

Trump lost. His continued ability to rope in gullible people like you is a destructive assault on the democratic stability of the world’s largest economy. He and you are playing a dangerous game with no winner. You continue to surprise me with this delusional thinking and inability to see consequences. A further note: you are brave and anonymous. I hide behind nothing. You are my guest. Never, ever threaten me again. – Garth

#128 millenial1982 on 12.02.20 at 3:53 am

#93 Where’s My Fair Share? on 12.01.20 at 8:15 pm

Well man you recognize the problem but you’re being played on the divide and conquer principle. I’m forced to WFM, however being subsidized to do so and able to claim the $400 credit yet still apparently. 2 of my 3 kids are under 6. The government has my back, democracy at work, opposite of the founding fathers republic of the USA. I’m purposely trying to piss you off if you haven’t figured it out. Therein is the problem, the government has too much power and is appealing to the herd. Downfall of a democracy we’re in, it should be painfully apparent. Everyone wants the free lunch. Otherwise I feel for ya and agree it’s not fair!

#129 earthboundmisfit on 12.02.20 at 5:13 am

As a senior, I’ve received zilch, nada, bupkis from the governments’ largesse. What are the chances of getting a pass on paying for it?

#130 westcdn on 12.02.20 at 7:22 am

For me, emotions are the spice of life. Nothing like being happy and sleeping well but it is earned. Common sense with work and thinking are worth it. I move on from events but I don’t forget. For some reason, dog gave me a great memory.

I have had too many near death experiences so I know I may die at any moment. Written words and my daughters/grandchildren will survive me. I am suffering mild cold symptoms currently but they come and go unlike anything have experienced before – congestive is higher than normal.

I will isolate myself (again). It really does not bother me that I may have CV19. It does because getting tested in not convenient and I don’t want a bunch of government flacks following me around. However, I will get tested before any vaccine.

I have been tasked with things I despise – makes me unhappy and doubt myself (fear). The good times will carry me through the bad. I never ignore the view of an insightful woman and makes happy moments.

I used to laugh at the old adage “there is no worse curse for a man than a more successful BIL” until I experienced it. Oh well, there is always tomorrow if you are not a slacker.

Rumors have it my biological father was my uncle. Piss on him, dear old Dad imparted much to me and my morals are near identical but the apple does not stray far from the tree. Could explain my contrarian streak. Man, dear old dad would get mad at if I did not measure up to his life standards. He explained it that he wanted me to be able to carry on.

What is better? A good plan executed poorly or a poor plan executed well. My experience it is hard to get the right people in the right place at the right time. Plans are easy to tweak. Count me on the side of getting things done.

#131 Wang Dang Poodle on 12.02.20 at 7:25 am

DELETED

#132 crowdedelevatorfartz on 12.02.20 at 8:13 am

Speaking of Trump.
One wonders if the US Justice dept may be on to something.

https://www.cnn.com/2020/12/01/politics/presidential-pardon-justice-department/index.html

The Family of Grifters grabbing at everything they can as they scurry from the White House like the rats they are…….

https://www.nydailynews.com/news/politics/ny-pardons-trump-family-giuliani-20201202-cq2owjuzmjhqvdvvb2qehzd37i-story.html

One wonders if the rumors’ are true.

Will Trump “Pull a Nixon” and appoint VP Pence as President at the last minute …just so President Pence can pardon him?

#133 short horses on 12.02.20 at 8:28 am

#64 TFSA strategy on 12.01.20 at 6:00 pm
“So here’s my TFSA strategy…”

I mean, it’s great that you and your wife are filling the TFSA as fast as you can!

I’d suggest looking through the archive of this blog to see some ideas about what a balanced & globally diversified portfolio of stock & bond ETFs looks like (specific ETFs aren’t mentioned, only descriptions of asset classes; ZWB & ZWU wouldn’t fall into any of the descriptions). There are also plenty of other good Canadian resources you can consult online or offline for ideas on which instruments provide the best diversification at the lowest cost.

#134 crowdedelevatorfartz on 12.02.20 at 8:31 am

Apparently $1 Billion dollars a year for the CBC budget isnt enough for the gender equality crowd.

$100 million for Telefilm Canada bureaucrats to “award” money to films that focus on “gender and race equality”

https://nationalpost.com/news/success-not-a-factor-in-funding-canadian-movies-as-focus-put-on-gender-and-racial-equality-producers

Taxpayer money urinated against a wall on films that no one will watch……..kinda like the Billion dollar Baby the CBC?

#135 David Hawke on 12.02.20 at 8:53 am

#129 earthboundmisfit on 12.02.20 at 5:13 am
As a senior, I’ve received zilch, nada, bupkis from the governments’ largesse. What are the chances of getting a pass on paying for it?

What planet are you from? We all received a king’s ransom of $300 Canuck bucks which was around $225 n real money, eh!

#136 n1tro on 12.02.20 at 8:57 am

DELETED.

There will be no more space provided here on this topic. – Garth

#137 Jenn on 12.02.20 at 9:30 am

I live in the GTA and I don’t own a home. I’m in my late 30s. Everyone I know who does own a home had family assistance: parental downpayment help, living with parents to grow downpayment, interest-free loan from parents to make downpayment, inheritance from grandparent to make downpayment, etc.

My partner and I don’t have this sort of help, so we rent and save money. We could possibly afford a 1-bed condo, which for our family and his pre-covid need to work from home would be ludicrous.

I really wish they’d stop trying to make housing more affordable for my generation. All it’s doing is raising prices. The housing market is wildly unsustainable as it is. I don’t know what the answer is. There is so much money being thrown at real estate from different directions that it’s hard to know what to do about it.

I’d like to say things play out in the condo market since covid and the Airbnb collapse hasn’t come close to bottoming out. And then there’s all those party houses on airbnb that are now illegal. What of them? Rather than trying to get millennials into the housing market (now of all times), which they cannot afford, I’d much prefer to see what the current situation actually looks like since there’s been a lot of changes already.

#138 crowdedelevatorfartz on 12.02.20 at 9:30 am

@#93 Where’s my share?
“Coming up in the New Year, union negotiations with the Province who wants a 10-15% pay CUT. (Cause you know, private sector employees had to take a cut so public sector workers should too. Ironic thing about that is when times were good private sector employees got bonuses and performance raises, public did not. In fact our wage has been frozen for the last four years, not even cost of living increases)”

++++

Nah.

Two scenarios come to mind for the govt bureaucrats dealing with the eventual fiscal reckoning Trudeau is bringing to all public sector “workers”.

That 10-15 % wage Cut is due to most public sector “workers” pay being paid equal or higher salaries than most private sector workers…..Then you add on the obscenely generous pensions ( which are topped up by the private sector wage slaves who have zero pension) and you begin to see the picture.

OR the govt actuaries are watching with horror at the billion upon billions of dollars Trudeau is doling out to everyone with gay abandon….(what the hell its Christmas! Everyone should be happy…..)

These govt bureaucrats know what is coming even if the unionized govt dullards cant figure it out yet.

The govts are broke.
All three levels.
Now……
Would somebody please tell Truedough that?

#139 crowdedelevatorfartz on 12.02.20 at 9:38 am

Well,
Just when you thought Canadian politicians were “open minded”…..

https://nationalpost.com/news/world/euro-mp-for-viktor-orbans-anti-lgbtq-party-quits-after-being-caught-at-brussels-gay-orgy

#140 earthboundmisfit on 12.02.20 at 9:41 am

@135 Dave Hawke
Nope …. missed it by a week.

#141 Dharma Bum on 12.02.20 at 9:50 am

I’m still waiting for Jaguar to ask if TANSTAAFL or John, or whatever the eff his name is, is my kid.

#142 jess on 12.02.20 at 9:54 am

what would the acronym be for these types?

The Federal Trade Commission has taken action against a debt collection company that allegedly placed bogus or highly questionable debts onto consumers’ credit reports to coerce them to pay the debts. Under a settlement with the FTC, the company, Midwest Recovery Systems (Midwest Recovery), is prohibited from the practice, known as “debt parking,” and required to delete the debts it previously reported to credit reporting agencies.
https://www.ftc.gov/news-events/press-releases/2020/11/ftc-stops-debt-collectors-alleged-debt-parking-scheme-requires-it
November 30, 2020
by Seena Gressin
Attorney, Division of Consumer & Business Education, FTC

There’s a virtual “NO PARKING” sign planted smack in the middle of your credit report. It means that debt collectors can’t report your debt — or your supposed debt — to credit reporting agencies without first trying to check with you.

That’s a key takeaway from the FTC’s case against Midwest Recovery Systems, LLC. The FTC says Midwest used “debt parking” to collect fake or questionable debts. Debt parking is an illegal practice where collectors post debts to people’s credit reports without first trying to contact them. Many people don’t learn about the debts until they apply for loans, jobs, or housing, and someone pulls their credit report. Some people pay the debts to clear their credit even if they don’t owe them. Others never discover the debts but lose job offers or other opportunities because of the information.

The FTC says Midwest parked more than $98 million in fake or unverified debts on credit reports, including certain medical debts and debts for fake or unauthorized payday loans, sometimes called phantom debts. The FTC says Midwest continued collecting the supposed debts even after finding that 80% to 97% of the debts that people disputed each month were inaccurate or invalid.

Under a settlement, Midwest and its owners must stop all unlawful collection practices, ask credit agencies to delete any debts they previously reported, and take other steps to assure they only report and collect valid debts.

How can you protect yourself against debt parking? Check your credit reports regularly. Equifax, Experian, and TransUnion each must give you a free copy of your credit report every 12 months. And, all three are offering free weekly online reports through April 2021 due to the pandemic. Dispute any errors or inaccurate information you find.

#143 willworkforpickles on 12.02.20 at 10:15 am

@112 Ponzias Pilatus
“You have a case. You should take it to the Supreme Court. I hear, Giuliano is available”
……………………………………………………………………………………………………..
Rudy’s busy suing his hair dye company.

#144 crowdedelevatorfartz on 12.02.20 at 10:18 am

Garth.
Will you be commenting on the Finance Dept’s top bureaucrat’s resignation announcement immediately after Freeland’s Speech?

Another highly regarded finance expert heading out the door…….

https://nationalpost.com/news/politics/finance-canadas-top-bureaucrat-announces-departure-day-after-the-governments-fall-economic-update

#145 Calgary Rip Off on 12.02.20 at 10:39 am

@#127 Nonplused:

Trump had a positive effect on my career in 2004-2005 watching the Apprentice. He has a lot of good qualities in business. He also is corrupt and lies and is opportunistic. I felt hope at the time watching him in the early 2000’s. Problem is he doesnt respect systems and doesnt communicate well. He shouldnt be in politics and although he says things there is always some hidden agenda manipulating through what he says. I find it hilarious that conservative states voted for Trump. For example, Mormon Utah. Trump is like a Lamanite King who wants to deny freedom to the Nephites. The central tenet of Mormonism is freedom, agency, the right to be self directing in choices. And somehow many voters chose to vote for him in these red states. Likely these people voted for him because they think he wont raise their taxes. Why pay any taxes at all for someone like Trump who is not stable?

It’s ridiculous that then on your post you are saying that Garth’s reputation will be wrecked as a financial advisor through saying that Trump lost. What are you a weenie? Your arguments are like the guys in the weight room that watch a guy squat 500 pounds and then criticize the lift because the guy’s glutes werent cemented to the floor at the bottom of the lift before ascending to completing the lift. It’s always funny in this situation because the people complaining or commenting about such lifts are thoroughly ignored as irrelevant. I especially liked Garth’s response at not tolerating your disrespect. It’s laughable that Trump is not acting correctly in leading those under him, especially hindering the democratic process, but the results are tragic. I figure there’s always some twisted agenda these days and everyone has an angle. Good luck on your prediction that Trump will still win. And this is coming from me who on some level likes Trump as a person, although Trump isnt fit to run any level of high level business as he is a wild man. He should be in stand up comedy to be laughed at.

The docs I work with think around February the mRNA vaccine will be the one. Im on the fence. According to one doc the side effects “wont be a walk in the park” and the day after getting the shot “may be a bad day”. That being said is the virus more risky than the vaccines? Dont have the answer.

Im just another anonymous person working in a hospital trying to improved each day.

#146 Ordinary Blog Dog on 12.02.20 at 10:52 am

#127 Nonplused.

His name is accurate – Nonplused – he does not add anything useful. More accurate if changed to Evernegative.

#147 IHCTD9 on 12.02.20 at 11:02 am

#115 SoggyShorts on 12.01.20 at 10:25 pm
#28 IHCTD9 on 12.01.20 at 4:19 pm

Ms. IH works with a guy who commutes from Brampton to our swampy Podunk – over 200 freaking km, thru the worst that the GTA 401 has to offer, both ways.

He says he likes driving…
*****************************

Be honest, does he have an amazing car, or are his wife and kids a nightmare?
____

The car is a regular family sedan.

But now that you mention it, the guy has a kid who wanted to get into med school but did not get accepted here. He did get accepted in some other country, estimated cost was ~400K.

Dude is mid 50’s, has 20K saved for retirement, and his wife is all over him to fund the foreign MD.

You may be right on the later.

#148 Unhinged Trader on 12.02.20 at 11:14 am

DELETED

#149 LP on 12.02.20 at 1:13 pm

#125 NoName on 12.02.20 at 12:23 am
#101 Tyberius on 12.01.20 at 9:01 pm
#63 NoName on 12.01.20 at 5:57 pm

#45 riken on 12.01.20 at 5:11 pm

Took me while, but see what you did there, now. You’ll pay for this as sun as gargle fix my spell checker.
*************************

Your spellchecker is just fine; it’s your grammar checker that’s kaput!

#150 Tommy on 12.02.20 at 1:16 pm

I support Right-to-Work legislation because I have seen firsthand how corrupt public sector unions destroy careers. Workers, especially younger workers who lack seniority, should have the option of opting out of union membership for bargaining unit jobs. And I say this as someone on the Left. And it doesn’t even seem to be on the radar of the right-wing in BC. Both sides of the political spectrum in BC are just fine and dandy with rampant union corruption.

#151 Felix on 12.02.20 at 1:16 pm

My compliments on today’s blog photo.

Confining useless mutts inside plexiglass containers may go a long way to reducing their dogawful harms.

#152 Tommy on 12.02.20 at 1:27 pm

I was censored multiple times on Parler. I was censored for simply quoting Roseanne Barr. So now I am on Gab, which feels like a self-imposed shadowban. The ENTIRE user base of Gab is only interested in Trump election results litigation. It seems they have zero interest in anything else. It feels like a cult and an echo chamber and it has my libertarian spidey senses tingling. Even if you love Trump, I wish more people could see he is NOT God.

#153 Gonkman on 12.02.20 at 1:45 pm

DELETED

#154 Tommy on 12.02.20 at 1:59 pm

…Speaking of Big Tech censorship, I see YouTube just deleted my account, along with years of comments. What am I even saying that is SO controversial?! Social media censorship is absolutely insane these days. I think I must see the worst side of it. But it just seems ridiculous. What could I possibly be saying that is so threatening and scary? The extreme censorship just makes those in charge of society look very nervous.

#155 SoggyShorts on 12.02.20 at 2:42 pm

#152 Tommy on 12.02.20 at 1:27 pm
I was censored multiple times on Parler. I was censored for simply quoting Roseanne Barr.
*******************
That’s vague. She said a lot of things, some of which were super racist, and got her fired IIRC.

“I was simply quoting” is no defense if you are quoting something awful.

#156 JB on 12.02.20 at 3:04 pm

#43 Steve French on 12.01.20 at 5:01 pm

One of the great tragedies of the Greater Fool blog, never to be remedied, is that Smoking Man was never granted a guest post.
……………………………………………………………………
Thank God for that small tragedy. Let us leave Smoky rest in peace wherever he is. He did piss off GOD several times so we are really not quite sure where he is in the universal time continuum. Last time I saw one of his Periscope live videos it was quite disturbing.

#157 Gonkman on 12.02.20 at 3:11 pm

#153 Gonkman on 12.02.20 at 1:45 pm

DELETED

*********************************

Wow.. My 1st Delete and I have only ever posted 10 or so times in over 6+ years of daily reading.

Garth its your site and your rules.

Am I allowed to know what I posted that was bad so it won’t happen again?

Was it the topic I posted about banned or just my Opinion?

We are no longer wasting space discussing whether or not Donald Trump post the election. He did. – Garth

#158 G on 12.02.20 at 4:04 pm

Regarding next days post.
Thanks for talking about reverse mortgage facts, including “At first, it sounds too good to be true. And it is.” And that they don’t come with a pony LOL.

I found this interesting maybe a couple others will to, but since I assume most will not I’m placing it in yesterday’s comment section. So no need for most people to look. Nothing to see here as they say.

FYI, Ontario Municipalities, Progressive Conservative Association of Alberta, New Democratic Party of Canada, Elections Ontario, US Elections, European Green Party and others are using scytl.us in elections. I just checked on their site.

TORESAYSNEWS on YT Dec 1 around the 2hour22min points this out, she has a Tore Says .com too.

The rest of Tore says show is just storytelling, probable. All just fictional and a myth, so I’m assume isn’t only good for entertainment. Maybe she just reads a lot of fictional spy novels and can spine a good tail. So if your time is limited…
Even scytl.us on their web site says ‘fake news’ is spreading disinformation about them.

I’m still glade that ‘the Canadian Federal elections’ are still being done on paper ballots and counted by the people’s hands at the individual polling locations, for now anyway. I’d like to think everyone’s vote counts with equal weight, even if it’s a #one as a numerator. Not that my preferences has always made it into office. At least I feel it’s far.

Vote counting machines I just don’t trust at all. But that’s probable just me. It’s not like you ever hear about computers getting hacked from time to time, having data stolen, changed, ransomed, or “glitchy” software. That can’t really happen. As you know, Software can only do what it’s been programmed to do with all the zeros and ones.

Glade to hear the markets have been going up since the 4 vaccines that includes the Russian one will be available soon. Biden isn’t my pick but if the markets and MSM seem ok with him so be it. Certainly nothing I can do about it.

Life is good, the Sun came up again today. The light still come on, Furnace is still working, some food in the fridge. Not all that bad, looking at the bigger picture. Feeling fortunate.

Hopefully everyone can get to a better place soon if there not already there.

#159 David Hawke on 12.02.20 at 7:42 pm

#140 earthboundmisfit on 12.02.20 at 9:41 am
@135 Dave Hawke
Nope …. missed it by a week .

Then you didn’t qualify so there’s nothing to whine about.

#160 Drill Baby Drill on 12.02.20 at 8:59 pm

Tanstaafl may God have mercy on your sorry ass.

#161 Tudval on 12.03.20 at 10:13 am

#154 Tommy I laughed so hard the other day when trying to ‘like’ a Trump video, Twitter prompted me to think twice about it and read some of their propaganda instead before making a big mistake. Yes, they’re out of control, but half of America sees nothing wrong with it when it serves their interest. And they point to Trump as having no morals.. go figure.